Business Visa
Business Innovation and Investment provisional visa subclass 188
Subclass 188 is a temporary visa for business owners who have experience and finances to open a business or have finances to invest in Australian business/company to contribute to Australian economy. From 1 st July 2021, invitation for visa will result in 5 years of visa validity. Subclass 188 lead pathway to permanent residency in the form of sc888 visa. One must comply all conditions attached to it, and it fulfill the business or investment conditions to get granted the permanent business visa. MOFU can combine application. SC188 has multiple streams, and all requires the nomination from relevant body to get invited for visa application. Business innovation and investor stream is point tested visa whereas other streams are not. Business innovation and significant investor also has extension stream. Nomination of the state, territory agency or CEO of the Austrade is required before lodging the visa application.
Currently there are there are four major stream and two extensions streams available which are as follows:
- Business Innovation stream
- Investor stream
- Significant Investor stream
- Entrepreneur stream
- Business Innovation Extension stream
- Significant Investor Extension stream
Business innovation:
For applicants who have experience in running the business and had operating business certain turnover and assets.
Documents needed:
- 65-point worth of qualification as aper sch 7D requirement upon whom you relied for 65 points.
- Business documents include annual turnover proof and ownership evidence.
- Assessment and value to the assets of your or partner or both.
- At least two tax assessment from last 4 years.
- Experience evidence that you were part of the running business and conducting the business yourself.
Investor stream:
Age: not turn 55 at the time of invitation
Score: 65
Experience: 3 years direct involvement in one or more qualifying business and had a successful record of eligible investment activity or qualifying business activity
Significant Investor stream:
Age: No age limit
Entrepreneur stream:
- Age: had not turned 55 at invitation or have exceptional economic benefit to the State or Territory who nominated.
- Had competent English.
- Undertaking, or proposing to undertake, a complying entrepreneur activity.
- Has a genuine intention to undertake, and continue to undertake, the complying entrepreneur activity in Australia.
- Sufficient to allow them to settle in Australia.
- PIC 4005.
Visa validity: Invited before 1 July 2021 then 4 year and 3 months otherwise 5 years.
Processing time: Current processing time is not available.
Business Innovation and Investment (Provisional) visa – subclass 188 (homeaffairs.gov.au)
Place of grant: In/Out Australia.
Visa Validity: Visa validity: Invited before 1 July 2021 then 4 year and 3 months otherwise 5 years.
For business innovation extension: 7 years from the grant of business innovation visa (6 years if invitation issued before 1 July 2021)
For Business Innovation Extension stream—for 8 years after the date of the grant of the Subclass 188 visa in the Business Innovation stream.
For Significant Investor Extension stream: Before 1July 2021: 6 years, after 7 years for
holder of significant investor stream.
For significant Investor Extension stream holder: before 1 July 2021- 8 years after 1 July 2021- for 9 years
Interested In Our VISA Assistance?
Success
Our skilled migration agents aim for a 100% success rate in visa applications. Trust us for expert assistance and guaranteed positive outcomes
Routes to Permanent
We focus on identifying and pursuing the most cost-effective pathways to help you achieve Permanent Residency
We prioritize you
At Fateh Immigration, we share your concern for the success of your application. Our team is dedicated to ensuring a positive outcome for you.
Connect With Our Registered Migration Agent
- We at Fateh Immigration are one of the most prominent consultancies providing Australian visa and immigrations solutions to the clients worldwide.
- Our team will never disappoint you to have up-to-date information on Australian immigration rules and regulations and ensure that you obtain a visa based on due diligence.
- Let one of our experienced migration agents assess all your visa options. We will look at all visa options available to you and determine which option is best for your individual situation.
Want a free assessment on Student Visa? Drop us a line at info@fatehimmigration.com.au